Federal Reserve Bank (FRB)
Intern - Regional & Community Outreach (Finance)
Job Summary:
The Federal Reserve Bank of Boston's Regional & Community Outreach department, which focuses on initiatives that support progress in low- and moderate-income communities, is looking for an intern to explore what the effect of widespread faster payments will be for low- and moderate income individuals. The Boston Fed is playing a key role in the creation of a real-time interbank gross settlement system called FedNow. In this role the individual will have a chance to explore the experiences of other central banks that have introduced real-time payments, explore the fintech ecosystem for companies that rely on the payments system and identify opportunities for continuing research. This position will appeal to those interested in the intersection of fintech, payments and public policy.
Description of Duties:
• Aid in the analysis of financial products, especially as it relates to financial inclusion and cost of services
• Complete an environmental scan of fintech companies involved in offering faster access to stored funds or earned income
• Assist in analysis of access to credit for small business
• Proactively seek out relevant datasets that would help inform work involving job quality, small businesses and access to credit, and others as needed.
This opportunity is well suited for a graduate student working towards their Master's degree or an advanced Bachelor level college student who is well acquainted in topics related to banking, payments, financial technology, economic inclusion and other similar fields.
The Federal Reserve Bank of Boston is committed to a diverse and inclusive workplace and to provide equal employment opportunities to all persons without regard to race, color, religion, national origin, sex, sexual orientation, gender identity, age, genetic information, disability, or military service.
All employees who are assigned to this position will be subject to credit, FBI fingerprint/ criminal background and Patriot Act/ Office of Foreign Assets Control (OFAC) watch list checks at least once every five years. Successful internal posting candidates will also be subject to credit re-screening before transferring.
The above statements are intended to describe the general nature and level of work required of this position. They are not intended to be an exhaustive list of all duties, responsibilities or skills associated with this position or the personnel so classified. While this job description is intended to be an accurate reflection of this position, management reserves the right to revise this or any job description at its discretion at any time.